Takeda Pharmaceutical Company has entered a license and collaboration agreement with Innovent Biologics to develop, manufacture and commercialize two late-stage oncology medicines — IBI363 and IBI343 — outside of Greater China, in a deal worth up to US$1.2 billion. The partnership also gives Takeda an exclusive option to license rights to IBI3001, an early-stage investigational cancer therapy.
Under the agreement, Takeda will make a US$1.2 billion upfront payment, including a US$100 million equity investment in Innovent. Innovent will also be eligible for future milestone payments, royalties, and a profit-sharing arrangement in the U.S. for IBI363.
IBI363 is a potentially first-in-class PD-1/IL-2α-bias bispecific antibody fusion protein being studied in non-small cell lung cancer (NSCLC), colorectal cancer, and other solid tumors. The drug has shown promising early results in over 1,200 patients, including those resistant to PD-1/L1 therapies. It has received FDA Fast Track designation for treating advanced squamous NSCLC and is moving into global Phase 3 trials. Takeda and Innovent will co-develop and co-commercialize IBI363 in the U.S., with Takeda leading commercialization outside the U.S. and Greater China.
IBI343, a next-generation antibody-drug conjugate (ADC) targeting Claudin 18.2, is being evaluated for gastric and pancreatic cancers — diseases with some of the lowest five-year survival rates. The drug has also received FDA Fast Track designation for advanced pancreatic cancer and is currently in a Phase 3 gastric cancer trial in Asia. Takeda will lead global development and commercialization of IBI343 outside Greater China.
Teresa Bitetti, President of Takeda’s Global Oncology Business Unit, said the partnership “has the potential to address critical treatment gaps for patients with a range of solid tumors” and strengthen Takeda’s oncology pipeline beyond 2030.
Andy Plump, Takeda’s President of R&D, added that the collaboration “enhances our late-stage pipeline” and reflects Takeda’s expertise in advancing innovative oncology modalities.
Dr. Hui Zhou, Chief R&D Officer for Oncology at Innovent, said the alliance would accelerate the development of innovative immuno-oncology and ADC therapies. “Our collaboration is poised to advance their development and potential commercialization, moving us closer to offering new options to patients in need,” he said.
The agreement expands Takeda’s global oncology portfolio with two promising cancer therapies and reinforces its strategic focus on next-generation biologics and targeted cancer treatments. Closing of the transaction remains subject to regulatory approvals and customary conditions.